Unauthorized Wells Fargo Accounts
2016-09-29T09:59:51-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvZmQxXC8yMDE2MDkyOTEwMjg0NTAwMV9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Wells Fargo Chair and CEO John Stumpf appeared before the House Financial Services Committee apologizing for the sales practices of his company that involved the creation of an estimated 2 million fraudulent accounts without customers' permission. He provided an update on new actions being taken by his company, including expanding its review of accounts and eliminating product sales goals for retail bank team members. Committee members harshly questioned Mr. Stumpf about the termination of over 5,000 Wells Fargo employees nationwide and repeatedly urged him to resign. Wells Fargo reached a settlement with federal officials in which they agreed to pay $185 million in fines. In addition, Mr. Stumpf had forfeited $41 million in stock awards.
Wells Fargo Chair and CEO John Stumpf appeared before the House Financial Services Committee apologizing for the sales practices of his… read more
Wells Fargo Chair and CEO John Stumpf appeared before the House Financial Services Committee apologizing for the sales practices of his company that involved the creation of an estimated 2 million fraudulent accounts without customers' permission. He provided an update on new actions being taken by his company, including expanding its review of accounts and eliminating product sales goals for retail bank team members. Committee members harshly questioned Mr. Stumpf about the termination of over 5,000 Wells Fargo employees nationwide and repeatedly urged him to resign. Wells Fargo reached a settlement with federal officials in which they agreed to pay $185 million in fines. In addition, Mr. Stumpf had forfeited $41 million in stock awards. close
People in this video
Hosting Organization
Purchase a Download
Unauthorized Wells Fargo Accounts
-
MP4 video - Standard
- Price:
- $9.99
-
MP3 audio - Standard
- Price:
- $0.99
Related Video
-
Federal Reserve Regulatory Oversight
Federal Reserve Chair Janet Yellen testified at a hearing on the central bank’s oversight responsibilities for the nation’s…
-
Financial Stability Oversight Council 2015 Report
At a hearing before the House Financial Services Committee, Treasury Secretary Jacob Lew presented the findings of the…
-
Securities and Exchange Commission Oversight
Securities and Exchange Commission Chair Mary Jo White testified at an oversight hearing on the SEC’s operations and…
-
Financial Stability Oversight Council Report
Treasury Secretary Steve Mnuchin testified before the House Financial Services Committee about the Financial Stability Oversight…
User Created Clips from This Video
-
- 5 minutes
- 2,574 views
-
- 1 minute
- 1,702 views
-
- 5 minutes
- 422 views
-
- 5 minutes
- 252 views